Raymond James Financial Inc. Invests $3.90 Million in DNOW Inc. (NYSE:DNOW)

Raymond James Financial Inc. purchased a new stake in DNOW Inc. (NYSE:DNOW) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 300,013 shares of the oil and gas company’s stock, valued at approximately $3,903,000. Raymond James Financial Inc. owned approximately 0.28% of DNOW as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Carrera Capital Advisors acquired a new position in DNOW during the fourth quarter valued at approximately $1,145,000. Charles Schwab Investment Management Inc. raised its holdings in shares of DNOW by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company’s stock worth $27,212,000 after buying an additional 25,402 shares in the last quarter. Bailard Inc. acquired a new position in shares of DNOW during the 4th quarter worth $511,000. Smartleaf Asset Management LLC lifted its position in shares of DNOW by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock worth $26,000 after buying an additional 885 shares during the last quarter. Finally, Versor Investments LP boosted its stake in DNOW by 43.0% in the fourth quarter. Versor Investments LP now owns 51,234 shares of the oil and gas company’s stock valued at $667,000 after buying an additional 15,400 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DNOW. StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Stifel Nicolaus upped their price objective on shares of DNOW from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, February 14th.

DNOW Trading Up 1.0 %

DNOW stock opened at $17.14 on Thursday. The company has a market capitalization of $1.81 billion, a PE ratio of 23.47 and a beta of 1.51. DNOW Inc. has a 12 month low of $11.42 and a 12 month high of $18.45. The stock has a 50-day moving average price of $15.40 and a two-hundred day moving average price of $14.02.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. DNOW had a net margin of 3.41% and a return on equity of 9.04%. As a group, analysts predict that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

DNOW announced that its board has authorized a share buyback plan on Friday, January 24th that authorizes the company to repurchase $160.00 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

DNOW Profile

DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.